U.S. Video Game Console Imports
In May 2023, approximately 4M units of video game consoles (not operated by means of payments) were imported into the United States; approximately reflecting the previous month. In general, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in August 2022 when imports increased by 34% against the previous month. Over the period under review, imports hit record highs at 8M units in September 2022; however, from October 2022 to May 2023, imports stood at a somewhat lower figure.
In value terms, video game console imports declined to $480M (IndexBox estimates) in May 2023. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in January 2023 when imports increased by 38% against the previous month. Imports peaked at 1.4B units in November 2022; however, from December 2022 to May 2023, imports stood at a somewhat lower figure.
Imports by Country
In May 2023, China (3M units) constituted the largest video game console supplier to the United States, accounting for a 76% share of total imports. Moreover, video game console imports from China exceeded the figures recorded by the second-largest supplier, Japan (375K units), eightfold. Vietnam (283K units) ranked third in terms of total imports with a 7.1% share.
From May 2022 to May 2023, the average monthly rate of growth in terms of volume from China totaled -4.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (+3.6% per month) and Vietnam (-9.2% per month).
In value terms, China ($347M) constituted the largest supplier of video game console to the United States, comprising 72% of total imports. The second position in the ranking was held by Vietnam ($62M), with a 13% share of total imports. It was followed by Malaysia, with a 9.5% share.
From May 2022 to May 2023, the average monthly rate of growth in terms of value from China totaled -6.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: Vietnam (-8.5% per month) and Malaysia (+43.6% per month).
Import Prices by Country
In May 2023, the video game console price stood at $120 per unit (CIF, US), dropping by -5.3% against the previous month. Over the period under review, the import price saw a slight decline. The growth pace was the most rapid in January 2023 when the average import price increased by 28% month-to-month. The import price peaked at $195 per unit in November 2022; however, from December 2022 to May 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($422 per unit), while the price for Japan ($26.9 per unit) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+10.4%), while the prices for the other major suppliers experienced mixed trend patterns.
